Fuji Heavy Industries increased its operating profit target for the six months to September with 34%.
Chinese automaker Fuji Heavy Industries managed to increase its operating profit thanks to higher prices for its Subaru brand models in the US, which helped the company make up for the lower sales in China. From April to September, Subaru’s sales increased 27% in North America, a market which accounts for almost a half of its global sales.
Although Subaru offered very small discounts in the US, customers still crowded to buy its SUVs and cars. Unlike rivals Nissan and Toyota, Subaru managed to increase its sales in the recovering US market, without offering cashback rebates on models such as the Outback and the Forester. Fuji Heavy announced it is expecting an operating profit for the first half of the year of $539 million (43 billion yen), an increase from the previous forecast of 32 billion yen.
The automaker saw its sales down 64% last month in the Chinese market, due to the anti-Japan protests and boycotts. Fuji Heavy is expected to offer more details on October 30th, when it will also report its second-quarter earnings.